20 Aug 2019
EUR/USD technical analysis: Euro nearing the weekly high as the Greenback loses steam
- EUR/USD is reversing its earlier losses as the market is nearing the weekly high.
- A break above 1.1107 can lead to further gains towards the 1.1132 level.
Italy’s League withdraws no-confidence motion against PM Conte - ANSA
EUR/USD daily chart
On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The Euro is bouncing from 2-week lows as the US Dollar is losing steam.
EUR/USD 4-hour chart
The Fiber is trading above the 1.1090 support and below its main SMAs. A break above 1.1107 resistance can lead to the 1.1132 level, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is challenging the 200 SMAs, suggesting a consolidation in the near term. Immediate support can be seen at the 1.1090, 1.1067 level, according to the Technical Confluences Indicator.
Additional key levels